NY -- Standard&Poor's CreditWire 10/5/98 -- Standard&Poor's today assigned its double-'A'-minus rating to Port Authority of New York&New Jersey's $363 million consolidated bonds 116th series dated Oct. 1, 1998 due Oct. 1, 2026. At the same time, Standard&Poor's affirmed its double-'A'-minus rating on the port's $5.3 billion consolidated bond. The rating on the consolidated bonds reflects: -- A first lien on a strong and diverse pledged revenue stream; -- Substantial liquid reserves totaling over $1.1 billion; -- The metropolitan New York/New Jersey region's strong demand for the authority's services; -- Solid financial operations, overall profitability and debt service coverage; and -- A comprehensive $6.2 billion capital plan. Standard&Poor's has credit
